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If your online business is doing well in your home country, one way to massively expand your sales is to start selling internationally. Opening your business to customers from other countries can reap huge financial rewards. However, each new market needs to be researched thoroughly before you take the plunge. For each prospective country, ask yourself the following questions:Questions to ask when considering a new market:
1. Is online shopping common in my target region?
Some countries have limited access to internet, or online shopping simply isn’t popular yet. It would be difficult for you to garner much business from a country like that. On the other hand, countries like France and Finland have just passed legislature that states that internet access is a human right, so virtually every citizen has access to the net.
2. Is online shopping likely to grow in my target region?
Many countries do not currently have a huge e-commerce base, but are growing fast. For instance, some of the Eastern European countries like Poland are expected to increase their online shopping by 30-40% in 2010.
3. Are the products / brands I’m selling already popular in my target country?
People are more likely to buy your products online if they are already familiar with them from magazines, tv ads, and brick-and-mortar stores in your area. There is no point trying to sell Nike shoes to people from Mongolia if the brand Nike has no cache or value in Mongolia. If you are Canadian / American, you have an advantage because most countries consume American media and thus are familiar with many American brand names.
4. What is the competition like in my target country?
If your product is already popular in your target country, you may have some heavy competition. Check whether other online retailers are already selling your product / brand, or whether there are other similar products / brands being sold online and in stores. The presence of competition doesn’t mean you can’t enter the market, but you will have to develop a point of difference, a reason why people should come to you instead of the previously entrenched retailer.
Once you have chosen a target market, how will you attract customers to your website?
How to make your website user-friendly for international visitors:
1. Hire a multi-lingual web designer to design a site specifically for your target country
Many brands choose to build a site for each country they sell to. For instance, if you visit the website for H&M, you are automatically directed to the site for the country you are located in. But you can also choose to visit the sites for 35 other countries, from the Netherlands to Saudi Arabia. Each site is in the correct language and characters.
2. Make your single website as clear and simple as possible
If you don’t want to build multiple sites or use multiple languages, make sure your English site is clear and straightforward so that international visitors with a limited knowledge of English will be able to use it. For guidelines, check out the Plain English Campaign at martdo b2b.
One caveat:
Cross-border sales are becoming far more common in e-tail, and expanding your sales internationally is a great way to make money. However, international sales continue to have a slightly higher incidence of fraud, so ensure that your payment system, delivery, and website in general are as secure as possible.
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